Automatic payments

What's an automatic payment?

The automatic payment feature of Wise-Pay enables Wise-Pay merchants to automatically draw amounts from the payer accounts. The Wise-Pay merchant selects the ConnectWise billing terms that are agreed for automatic payments and configures when the payment would be drawn. Once an invoice with a billing term configured for automatic payment is synced to Wise-Pay, the transaction is scheduled for automatic payment as per the configured payment terms. The automatic payment mapping defined by the payer directs which account or credit card would be used for automatic payments..

How are automatic payments processed?

The automatic payment process involves configurations by Merchant Administrator and payer administrator or payers. The following are the main stages to process automatic payments for the issued invoices.

    1. The merchant registers with Wise-Pay and configures the automatic payments. See How To Configure Automatic Payments.
    2. The merchant defines the billing terms for automatic payments. See How To Create or Manage Billing Terms.
    3. The merchant creates a payer in Wise-Pay. The payer registers with Wise-Pay. See How to Add a Payer.
    4. The payer configures auto-pay mappings in Wise-Pay, which includes the following details. See How to Manage Auto-Pay Terms for Payers.

      - Companies

      - Bank Accounts

      - Credit Cards

      - Auto Pay

      - Notifications

    5. Wise-Pay examines each synced invoice for the ConnectWise billing term and maps it to the Wise-Pay billing term.
    6. It follows the Wise-Pay billing term settings to know how and when to process payment for this invoice.
    7. Wise-Pay then uses payers credit card or bank account information to process the payment.
    8. On successful payment processing, the invoice appears in the Past Payments pod of the merchant dashboard. 

Note:

Missing any of the configurations described in the first four steps may lead to unprocessed or unmatched payments.

What do I need to do?

Configuring automatic payments is a multi-step process that involves merchant and payer admins. For the automatic payments to work successfully without any errors, ensure that:

  • You have an agreement with the payer to draw automatic payments
  • You have configured the appropriate billing terms in ConnectWise Finance or Agreement (or both) modules
  • You select the appropriate billing terms on invoices to trigger automatic payments
  • The payer has configured her Wise-Pay account and added the following:
    • Credit card or bank account details, or both
    • Configured an automatic payment mapping that maps an invoice with a specific billing term to a specific payment method.
  • You have configured Wise-Pay with appropriate billing terms to drive automatic payments
  • Ensure that the payer has configured the bank account or credit card (or both) in Wise-Pay.
To know more about automatic payment configuration, see How To Configure Automatic Payments.

Helpful Suggestions:

  • To encourage clients to agree to automatic payments, you can discount or waive off surcharges to incentivize
  • It is wise to send the invoice to the payer a few days before the payment date, informing them about the automatic payment.
P
Paul is the author of this solution article.

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